The global medical device connectivity market is projected to reach USD 1,344.1 Million by 2021 from ~USD 413.7 Million in 2016, at a CAGR of around 26% during the forecast period. Factors such as rising need to curtail healthcare costs, growing need to integrate healthcare systems for improving the quality of care, and growing efforts from healthcare providers to maximize their returns on investment are fueling the growth of this market. In addition, increasing adoption of EHR and healthcare information exchange systems, and rising demand for home healthcare is further encouraging the adoption of medical devices connectivity solutions. However, lack of standard interfaces, high installation costs of medical devices connectivity platforms and reluctance of healthcare professionals to adopt advanced healthcare IT solutions is hampering the uptake of medical devices connectivity solutions by healthcare organizations.

In this report, the global market is segmented on the basis of component, technology, and end user. On the basis of component, the market is segmented into two segments namely medical devices connectivity services and solutions. On the basis of technology, the market is segmented into three segments, namely, wired technologies, hybrid technologies, and wireless technologies. On the basis of end user, the market is segmented into hospitals & clinics, home healthcare, and imaging & diagnostic centers.

Geographically, the global market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. In 2015, North America commanded the largest share of the global market. The major share of this region can be attributed to the better accessibility to technologies, strong government support and initiatives, increasing need for data analytics in healthcare, increasing implementation of EHRs, healthcare information exchange systems, and growing focus on quality of care and patient safety.

The global medical device connectivity market is projected to reach USD 1,344.1 Million by 2021 from USD 413.7 Million in 2016, at a CAGR of around 26% during the forecast period. This market is mainly driven by the increasing need for integration and connectivity tools in continuously expanding healthcare organizations, the growing adoption of electronic medical records and implementation of a number of healthcare IT initiatives and healthcare reforms. Moreover, strong government support and initiatives, increasing need for data analytics in healthcare, and growing focus on quality of care and patient safety further provide significant growth opportunities for market players in the market. However, interoperability issues, high installation costs of medical devices connectivity platforms, and fragmented end-users market are the major factors hampering the growth of this market.

In this report, the global medical device connectivity market is segmented on the basis of component, technology, and end user. On the basis of component, the market is segmented into two segments, namely, medical device connectivity services and solutions. On the basis of technology, the market is segmented into three segments, namely, wired connectivity, wireless connectivity, and hybrid technology. On the basis of end user, the global medical devices connectivity is segmented into three segments, namely, hospital and clinics, home healthcare, and imaging & diagnostic centers.

In 2015, the medical devices connectivity services segment accounted for the largest share of the market. However, the medical device connectivity solutions segment is expected to grow at a higher CAGR of around 28% during the forecast period. This growth can be attributed to factors such as increased adoption of EHRs and other interoperability solutions in healthcare organizations, growing regulatory requirements & healthcare reforms, shift of point-of-care diagnostics from hospital to home care settings, and the need for integrated healthcare systems to improve the quality and outcome of healthcare systems.

Geographically, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). In 2015, North America commanded the largest share, followed by Europe, Asia-Pacific, and the RoW. North America represented the fastest-growing region for the market, primarily due to better accessibility to technology, the increasing demand for eHealth solutions and services in large hospitals and health systems, changing regulations, rising geriatric population, and increasing need to curtail healthcare costs.

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